Litigation Capital Management Limited (DI) (LIT)

Sector:

Financials

Index:

FTSE AIM All-Share

98.00p
   
  • Change Today:
    -0.40p
  • 52 Week High: 117.00
  • 52 Week Low: 69.00
  • Currency: UK Pounds
  • Shares Issued: 117.86m
  • Volume: 68,196
  • Market Cap: £115.50m
  • RiskGrade: 218

Litigation Capital announces success in Carillion claim

By Josh White

Date: Monday 20 Feb 2023

LONDON (ShareCast) - (Sharecast News) - Litigation Capital Management announced a successful outcome on its Carillion claim on Monday.
The AIM-traded company had entered an agreement to provide a litigation finance facility to fund a claim against KPMG, the former auditor of the Carillion group.

It said the claim arose due to KPMG's conduct of its audits of the group's financial statements from 2014 to 2016.

The claim was funded directly from Litigation Capital's balance sheet for 25% of the cost, and from the Litigation Capital-managed Global Alternative Returns Fund, or 'Fund I',. for the remaining 75%.

It was the first investment from Fund I that had reached settlement, with Litigation Capital receiving an AUD 3.2m (£1.84m) performance fee from Fund I as a result of the settlement.

Carillion was the largest corporate collapse in the building and construction industry in UK history when it entered liquidation in January 2018.

"We are pleased that the first substantive resolution of a Fund I investment has generated returns consistent with our historical track record," said chief executive officer Patrick Moloney.

"In addition, the overall returns to Litigation Capital's balance sheet, including performance fees following the conclusion of our first settlement from Fund I, demonstrates the strengths of our asset management business model and showcases our thorough due diligence and case selection processes."

At 1556 GMT, shares in Litigation Capital Management were up 1.99% at 67.82p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

LIT Market Data

Currency UK Pounds
Share Price 98.00p
Change Today -0.40p
% Change -0.41 %
52 Week High 117.00
52 Week Low 69.00
Volume 68,196
Shares Issued 117.86m
Market Cap £115.50m
RiskGrade 218

LIT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
72.08% above the market average72.08% above the market average72.08% above the market average72.08% above the market average72.08% above the market average
65.05% above the sector average65.05% above the sector average65.05% above the sector average65.05% above the sector average65.05% above the sector average
Price Trend
49.23% above the market average49.23% above the market average49.23% above the market average49.23% above the market average49.23% above the market average
52.14% above the sector average52.14% above the sector average52.14% above the sector average52.14% above the sector average52.14% above the sector average
Income
41.18% above the market average41.18% above the market average41.18% above the market average41.18% above the market average41.18% above the market average
25.81% above the sector average25.81% above the sector average25.81% above the sector average25.81% above the sector average25.81% above the sector average
Growth
88.87% above the market average88.87% above the market average88.87% above the market average88.87% above the market average88.87% above the market average
96.23% above the sector average96.23% above the sector average96.23% above the sector average96.23% above the sector average96.23% above the sector average

LIT Dividends

  Latest Previous
  Final Final
Ex-Div 28-Sep-23 14-Nov-19
Paid 27-Oct-23 11-Dec-19
Amount 2.25p 0.83¢

Trades for 27-Feb-2024

Time Volume / Share Price
12:07 2,041 @ 97.79p
11:33 6,544 @ 97.33p
09:52 30 @ 97.33p
09:40 545 @ 98.00p
09:27 13,600 @ 97.00p

LIT Key Personnel

CEO Patrick Moloney
CFO Mary Gangemi

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